SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the Fiscal year ended DECEMBER 31, 1996
Commission File No. 1-13426
A. The Sports Authority 401(k) Savings and Profit Sharing Plan
B. The Sports Authority, Inc.
3383 N. State Road 7
Ft. Lauderdale, Florida 33319
(954) 735-1701
1
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, The Sports
Authority, Inc., as plan administrator, has duly caused this Annual Report to be
signed by the undersigned thereunto duly authorized.
THE SPORTS AUTHORITY , INC.
Date: June 24, 1997 By: /S/ ANTHONY F. CRUDELE
----------------------
Anthony F. Crudele
Senior Vice President and
Chief Financial Officer
(Principal Financial and
Accounting Officer)
2
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THE SPORTS AUTHORITY 401(K) SAVINGS AND PROFIT SHARING PLAN
INDEX TO FORM 11-K
PAGE NUMBER
Report of Independent Certified Public Accountants 4
Statement of Net Assets Available for Benefits with Fund information
at December 31, 1996 5
Statement of Net Assets Available for Benefits with Fund information
at December 31, 1995 6
Statement of Changes in Net Assets Available for Benefits with Fund
information for the year ended December 31, 1996 7
Statement of Changes in Net Assets Available for Benefits with Fund
information for the year ended December 31, 1995 8
Notes to Financial Statements 9-12
Schedule I - Schedule of Assets Held For Investment Purposes -
December 31, 1996 13
Schedule II - Schedule of Reportable Transactions for the year
ended December 31, 1996 14-15
Index to Exhibits 16
3
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REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
To the Participants and Administrator
of The Sports Authority 401(k) Savings
and Profit Sharing Plan
In our opinion, the accompanying statements of net assets available for benefits
with Fund information and the related statements of changes in net assets
available for benefits with Fund information present fairly, in all material
respects, the net assets available for benefits of The Sports Authority 401(k)
Savings and Profit Sharing Plan at December 31, 1996 and 1995, and the changes
in net assets available for benefits for years then ended in conformity with
generally accepted accounting principles. These financial statements are the
responsibility of the plan's management; our responsibility is to express an
opinion on these financial statements based on our audits. We conducted our
audits of these statements in accordance with generally accepted auditing
standards which require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for the opinion expressed above.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The additional information included in
schedules I and II is presented for purposes of additional analysis and is not a
required part of the basic financial statements but is additional information
required by ERISA. The Fund information in the statements of net assets
available for benefits and the statements of changes in net assets available for
benefits is presented for purposes of additional analysis rather than to present
the net assets available for benefits and changes in net assets available for
benefits of each fund. Schedule I, II and the Fund Information have been
subjected to the auditing procedures applied in the audits of the basic
financial statements and, in our opinion, are fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
PRICE WATERHOUSE LLP
Fort Lauderdale, Florida
June 24, 1997
4
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<TABLE>
<CAPTION>
THE SPORTS AUTHORITY 401(K) SAVINGS AND PROFIT SHARING PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
at December 31, 1996
-------------------------------------------------------------------------------------------------
Managed Growth Balanced The Sports Authority Kmart Corporation
Income Equity Equity Common Stock Common Stock
Fund Fund Fund Fund Fund Other Total
-------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Cash $ 877 $ 59 $ 49 $ 131 $ 5 $ 702 $ 1,823
Investments, at Fair Value
The Sports Authority Common - - - 3,197,554 - - 3,197,554
Stock
Kmart Corporation Common Stock - - - - 370,315 - 370,315
Short-term Investments - - - 13 433 - 446
Managed Income Fund 2,253,725 - - - - - 2,253,725
Growth Equity Fund - 2,482,724 - - - - 2,482,724
Balanced Equity Fund - - 1,988,065 - - - 1,988,065
Participant Loans - - - - - 390,007 390,007
------------------------------------------------------------------------------------------------
Total Investments 2,253,725 2,482,724 1,988,065 3,197,567 370,748 390,007 10,682,836
------------------------------------------------------------------------------------------------
Receivables:
Contributions from Plan 37,184 56,319 41,135 53,233 - - 187,871
Participants
Contributions from Employer 16,284 23,001 17,287 590,519 - - 647,091
Other Receivables/(Payables) (6,108) (6,187) 4,992 1,166 (4,354) 18,481 7,990
------------------------------------------------------------------------------------------------
Total Receivables 47,360 73,133 63,414 644,918 (4,354) 18,481 842,952
------------------------------------------------------------------------------------------------
Total Assets 2,301,962 2,555,916 2,051,528 3,842,616 366,399 409,190 11,527,611
------------------------------------------------------------------------------------------------
LIABILITIES
Operating Payables 826 - - - - - 826
------------------------------------------------------------------------------------------------
Net Assets Available for $2,301,136 $2,555,916 $2,051,528 $3,842,616 $366,399 $409,190 $11,526,785
Benefits ================================================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements
5
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<TABLE>
<CAPTION>
THE SPORTS AUTHORITY 401(K) SAVINGS AND PROFIT SHARING PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
at December 31, 1995
--------------------------------------------------------------------------------------------------
Managed Growth Balanced The Sports Authority Kmart Corporation
Income Equity Equity Common Stock Common Stock
Fund Fund Fund Fund Fund Other Total
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Cash $ 67 $ 81 $ 73 $ 122 $ 38 $ 1 $ 382
Investments, at Fair Value
The Sports Authority Common - - - 934,051 - - 934,051
Stock
Kmart Corporation Common Stock - - - - 458,387 - 458,387
Short-term Investments 287 - 1,000 17 10,902 - 12,206
Managed Income Fund 1,754,355 - - - - - 1,754,355
Growth Equity Fund - 1,451,214 - - - - 1,451,214
Balanced Equity Fund - - 1,095,601 - - - 1,095,601
Participant Loans - - - - - 111,645 111,645
--------------------------------------------------------------------------------------------------
1,754,642 1,451,214 1,096,601 934,068 469,289 111,645 5,817,459
--------------------------------------------------------------------------------------------------
Receivables:
Contributions from Plan 51,250 62,851 37,534 55,954 - - 207,589
Participants
Contributions from Employer 23,798 26,478 16,055 519,328 - - 585,659
Other Receivables/(Payables) 91 444 833 617 16,141 (8,634) 9,492
--------------------------------------------------------------------------------------------------
75,139 89,773 54,422 575,899 16,141 (8,634) 802,740
--------------------------------------------------------------------------------------------------
Net Assets Available for $1,829,848 $1,541,068 $1,151,096 $1,510,089 $485,468 $103,012 $6,620,581
Benefits ==================================================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements
6
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<TABLE>
<CAPTION>
THE SPORTS AUTHORITY 401(K) SAVINGS AND PROFIT SHARING PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
for the Year Ended December 31, 1996
--------------------------------------------------------------------------------------------------
Managed Growth Balanced The Sports Authority Kmart Corporation
Income Equity Equity Common Stock Common Stock
Fund Fund Fund Fund Fund Other Total
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Additions to Net Assets
Attributed to:
Investment Income:
Interest Income $ - $ - $ - $ - $ - $ 14,679 $ 14,679
Realized/Unrealized
Gain/(Loss) or
Appreciation/(Depreciation) 129,520 283,954 242,033 765,707 162,946 - 1,584,160
Contributions:
Contributions from Plan 593,812 827,137 614,082 805,892 - - 2,840,923
Participants
Contributions from Employer 244,094 324,919 220,361 889,442 - - 1,678,816
-------------------------------------------------------------------------------------------------
Total Additions 967,426 1,436,010 1,076,476 2,461,041 162,946 14,679 6,118,578
Deductions from Net Assets
Attributed to:
Participant Withdrawals 348,560 291,584 177,737 306,323 68,072 11,033 1,203,309
Trustee Administrative Fees 9,065 - - - - - 9,065
-------------------------------------------------------------------------------------------------
Total Deductions 357,625 291,584 177,737 306,323 68,072 11,033 1,212,374
Net Increase prior to Interfund 609,801 1,144,426 898,739 2,154,718 94,874 3,646 4,906,204
Transfers
Interfund Transfers (138,513) (129,578) 1,693 177,809 (213,943) 302,532 -
Net Assets Available for Benefits
at Beginning of Period 1,829,848 1,541,068 1,151,096 1,510,089 485,468 103,012 6,620,581
-------------------------------------------------------------------------------------------------
Net Assets Available for Benefits
at End of Period $2,301,136 $2,555,916 $2,051,528 $3,842,616 $366,399 $409,190 $11,526,785
=================================================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements
7
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<TABLE>
<CAPTION>
THE SPORTS AUTHORITY 401(K) SAVINGS AND PROFIT SHARING PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
for the Year Ended December 31, 1995
--------------------------------------------------------------------------------------------------
Managed Growth Balanced The Sports Authority Kmart Corporation
Income Equity Equity Common Stock Common Stock
Fund Fund Fund Fund Fund Other Total
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Additions to Net Assets
Attributed to:
Investment Income:
Cash Dividends $ - $ - $ - $ - $ 30,816 $ - $ 30,816
Interest Income - - - - - 2,141 2,141
Realized/Unrealized
Gain/(Loss) or
Appreciation/(Depreciation) 79,440 119,707 174,910 (54,741) (319,711) 4 (391)
Contributions:
Contributions from Plan 591,844 579,445 472,167 708,511 - 2,558 2,354,525
Participants
Contributions from Employer 247,409 220,461 190,575 783,056 - 162 1,441,663
Transfers from Other Plans 1,112,092 606,997 465,182 - 1,215,854 1,430 3,401,555
------------------------------------------------------------------------------------------------
Total Additions 2,030,785 1,526,610 1,302,834 1,436,826 926,959 6,295 7,230,309
Deductions from Net Assets
Attributed to:
Participant Withdrawals 188,738 155,109 100,303 101,680 240,767 5,930 792,527
Trustee Administrative Fees 3,648 - - - - - 3,648
------------------------------------------------------------------------------------------------
Total Deductions 192,386 155,109 100,303 101,680 240,767 5,930 796,175
Net Increase prior to Interfund 1,838,399 1,371,501 1,202,531 1,335,146 686,192 365 6,434,134
Transfers
Interfund Transfers (8,551) 169,567 (51,435) 174,943 (200,724) (83,800) -
Net Assets Available for Benefits
at Beginning of Year - - - - - 186,447 186,447
------------------------------------------------------------------------------------------------
Net Assets Available for Benefits
at End of Year $1,829,848 $1,541,068 $1,151,096 $1,510,089 $485,468 $103,012 $6,620,581
================================================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements
8
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THE SPORTS AUTHORITY 401(K) SAVINGS
AND PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - ACCOUNTING POLICIES
The accompanying financial statements of The Sports Authority 401(k) Savings and
Profit Sharing Plan (the "Plan") are prepared on the accrual basis of
accounting.
The Sports Authority, Inc. (the "Company") prepares its Plan financial
statements in conformity with generally accepted accounting principles. These
principles require management to make estimates and assumptions that affect the
reported amounts of net assets available for benefit, and report amounts of
changes in net assets available for benefit during the reporting period, such as
those regarding fair value. Actual results could differ from those estimates.
Plan investments, other than the Managed Income Fund, are stated at fair value.
The Sports Authority Common Stock Fund and Kmart Corporation Common Stock Fund
are valued at their quoted market prices. Mutual fund investments are valued at
net asset value representing the value at which shares of the fund may be
purchased or redeemed. The Managed Income Fund is valued at contract value which
approximates fair value. Participant notes receivable are valued at cost which
approximates market value. Realized and unrealized gains and losses are
determined utilizing the average cost method. Unrealized gains or losses
resulting from changes in market prices are included in the Statements of
Changes in Net Assets Available for Benefits with Fund information.
Expenses of administering the Plan may be paid by the Employer or may be paid
from the funds; provided, however, that brokerage fees, transfer taxes and other
expenses incident to the operation of a fund are charged against that fund. For
the years ended December 31, 1996 and 1995, the Employer paid the fee associated
with the recordkeeper and trustee, except for the Managed Income Fund, in which
administrative expenses are paid from fund assets. Taxes, if any, on any assets
held or income received by any fund are charged against that fund.
NOTE 2 - PLAN DESCRIPTION
GENERAL
The following description of the Plan provides only general information.
Participants should refer to the Plan agreement for a more complete description
of the Plan's provisions.
The Plan is a voluntary, defined contribution plan which commenced December 1,
1994. Employees are eligible to participate in the Plan on the first day of
the month following attainment of age 21 and performance of 1,000 hours of
service within a twelve month period. Employees that were participants in the
Kmart Corporation Employee Savings Plan (the "Kmart Plan") on November 30, 1994
are eligible as of the effective date. Employees as of December 1,
9
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1994, that were not yet eligible under the Kmart Plan, received credit under
the Plan for service hours earned under the Kmart Plan.
ADMINISTRATION
The Trustee of the Plan is Wachovia Bank of Georgia, N.A. The record keeper for
the Plan is W. M. Mercer, Inc. The Plan's Committee is appointed by the
Company's Board of Directors, and is responsible for the administration of the
Funds during 1996. During 1996, Trust II, in which the Company was Trustee, was
terminated.
CONTRIBUTIONS AND VESTING
Except as may be limited by applicable Internal Revenue Code regulations, a
participant may elect before-tax or after-tax contributions to the Plan through
payroll deductions ranging from 1% to 16% of compensation. For any amount the
participant contributes up to 6% of compensation, the Company will contribute an
amount equal to 50% thereof. All participants are automatically vested in the
Company's contributions to the Plan.
Participants may elect to have their contributions invested in four funds: A
Managed Income Fund, a Growth Equity Fund, a Balanced Equity Fund and The Sports
Authority Common Stock Fund. The primary objective of the Managed Income Fund is
to preserve principal and income while maximizing current income through a
portfolio balanced between fixed income securities, investment contracts, and
money market investments. The Growth Equity Fund invests in larger established
companies. The Balanced Equity Fund has three objectives; current income,
capital growth and conservation of principal. The Sports Authority Common Stock
Fund invests in the Company's Common Stock ("Company Common Stock"). Excess cash
is temporarily invested in short term investments. The participant's percentage
allocation to each fund must be either 10% or an exact multiple of 10%.
Contributions previously invested in the Kmart Plan were transferred to the Plan
in March 1995. The Plan's investment funds were set up to offer the same fund
types as the Kmart Plan, including a Kmart Corporation Common Stock Fund.
Balances in the Kmart Plan were transferred to the corresponding funds in the
Plan. No additional contributions can be made to the Kmart Corporation Common
Stock Fund.
Effective as of the first day of the following month, a participant may elect to
change the amount or form of contributions made to the Plan. The participant may
change the percentage allocated to each fund on the existing value as well as
future contributions. The participant is also able to change the amount of
future contributions made to the Plan.
A participant may elect to discontinue before-tax or after-tax contributions
immediately with proper notification. A participant, after previously suspending
contributions, may resume contributions without penalty. A participant is
permitted to withdraw all or a part of his before-tax contributions only after
the withdrawal of any after-tax contributions and either the participant (i) has
attained the age of 59 1/2 or (ii) has met the hardship rules as defined in the
Plan. In the event of such a withdrawal, all before-tax contributions and
employer matching contributions will
10
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be suspended for six months. A participant may elect to withdraw all or a part
of his after-tax contributions without penalty.
A participant may elect to request a loan of his employee contributions. The
loan is subject to certain conditions including a minimum loan of $1,000 and a
maximum loan not to exceed the lesser of $50,000 or 50% of the participant's
vested balance. No more than one loan may be outstanding to any participant at
any time. The term of any loan shall range from one year to five years for loans
not for the purpose of purchasing a primary residence. Participant loans bear
interest at the prime rate.
The Plan also includes a Profit Sharing portion, whereby each participant will
receive employer contributions equal to at least one percent of his compensation
for each year. The contribution to the Profit Sharing Plan for the Plan years
ended December 31, 1996 and 1995 in the amounts of $567,523 and $495,117 were
made in April 1997 and April 1996, respectively.
Profit Sharing contributions are invested in The Sports Authority Common Stock
Fund until a participant is 100% vested. A participant's vesting requires five
years of Plan participation and includes participation in the Kmart Plan. Fully
vested participants may direct or transfer their contributions to the various
investment funds. Forfeitures of assets in the Profit Sharing portion of the
Plan are used to reduce future profit sharing contributions. Forfeitures for the
Plan years ended December 31, 1996 and 1995 were $77,627 and $0, respectively.
TERMINATION
Participation in the Plan automatically terminates when a participant is no
longer an employee and his or her account balance is distributed, except the
value of a participant's account exceeds $3,500, participation may continue
until age 70 1/2 unless the participant sooner requests distribution or dies.
During continuation of participation after employment terminates, no additional
employee or employer contributions, loans or partial withdrawals are permitted.
Upon termination of participation, a full distribution is made of the
participant's account. Withdrawals and distributions are paid in cash, except
participants who elect to take the distribution in stock to the extent that the
participant's account consists of shares of Kmart Corporation Common Stock
and/or shares of Company Common Stock.
NOTE 3 - RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
The following is a reconciliation of net assets per the financial statements to
the Form 5500:
AS OF DECEMBER 31,
1996 1995
------------------------------
Net assets per the financial statements $11,526,785 $ 6,620,581
Benefits approved but unpaid (59,985) (49,181)
------------------------------
Net assets per the Form 5500 $11,466,800 $ 6,571,400
==============================
11
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The following is a reconciliation of the benefits paid per the financial
statements to the Form 5500:
YEAR ENDED
DECEMBER 31,
1996
---------------
Benefits paid per the financial statements $ 1,203,309
Benefits paid in 1996 but approved in 1995 (49,181)
Benefits approved but unpaid at
December 31, 1996 59,985
---------------
Benefits paid per the Form 5500 $ 1,214,113
===============
NOTE 4 - TAX STATUS
The Internal Revenue Service has determined and informed the Company by letter
dated February 6, 1996, that the Plan and related trust are designed in
accordance with applicable sections of the Internal Revenue Code (IRC). The Plan
administrator and the Plan's tax counsel believe that the Plan is designed and
is currently being operated in compliance with the applicable provisions of the
IRC.
NOTE 5 - TRANSACTIONS WITH PARTIES-IN-INTEREST
For the Plan year ended December 31, 1996, the Plan purchased 75,343 shares and
sold 15,641 shares of Company Common Stock for $1,947,478 and $410,099,
respectively. For the Plan year ended December 31, 1995, the Plan purchased
49,979 shares and sold 3,119 shares of Company Common Stock for $1,091,603 and
$77,350, respectively. Distributions to Plan participants consisted of 1,625
shares and 1,017 shares of Company Common Stock, and the market value of such
shares at date of distribution was $37,169 and $36,132 for the Plan years ended
December 31, 1996 and 1995, respectively. The Plan did not pay any fees to the
Trustee, Wachovia Bank of Georgia, as all trustee fees were paid directly by the
Company. The Company paid $27,713 and $16,038 in trustee fees for the Plan years
ended December 31, 1996 and 1995, respectively.
12
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<TABLE>
<CAPTION>
SCHEDULE I
THE SPORTS AUTHORITY 401(K) SAVINGS AND PROFIT SHARING PLAN
ITEM 27(A) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
December 31, 1996
- -------------------------------------------------------------------------------------------------------------
Identity of Issue, Borrower, Par Value Description of Investment Including
Lessor or Similar Party or No. of Maturity Date, Rate of Interest, Current
Shares Collateral, Par or Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
General Investments:
Kmart Corporation Common 35,693 Kmart Corporation, Common Stock $ 538,460 $ 370,315
Stock Fund Par Value $1
The Sports Authority Common 147,014 The Sports Authority, Inc. Common 2,619,575 3,197,554
Stock Fund* Stock Par Value $.01
Participant Loans* 136 Participant Loans - 390,007
(High and Low interest rates are
8.50% and 8.25%, respectively)**
Registered Investment Companies:
Managed Income Fund 53,073 Guaranteed Investment Contracts 2,173,946 2,253,725
Balanced Equity Fund 77,176 American Mutual Fund 1,827,738 1,988,065
Short Term Investments 446 Money Market Fund 446 446
Growth Equity Fund 113,470 Growth Investors Mutual Fund 2,306,644 2,482,724
----------
Total Assets Held For Investments
Purposes $10,682,836
==========
</TABLE>
*Denotes a party-in-interest to the Plan.
** Maturity dates range from August 1997 to December 2011.
13
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<TABLE>
<CAPTION>
SCHEDULE II
THE SPORTS AUTHORITY 401(K) SAVINGS AND PROFIT SHARING PLAN
ITEM 27(D) - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1996
- -----------------------------------------------------------------------------------------------------------------------------
Description of Assets
and Transactions Current Value
(including Interest Rate of Assets on
Identity of Party and Maturity in case of a Purchase Selling Cost of Transaction Net Gain
Involved Loan) Price Price Expenses Assets Date (Loss)
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
I) A single
transaction in
excess of 5% of
the current value
of plan assets:
Salomon Brothers The Sports Authority-
Common Stock* $493,605 $1,504 $495,109 $493,605 -
II) A series of
transactions in
excess of 5% of
the current value
of plan assets:
The Sports The Sports Authority-
Authority Common Common Stock*
Stock Fund* 29 purchases $1,940,251 $6,027 $1,946,278 $1,940,251
38 sales $448,482 $1,213 $332,109 $448,482 $115,160
</TABLE>
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<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
Description of Assets
and Transactions Current Value
(including Interest Rate of Assets on
Identity of Party and Maturity in case of a Purchase Selling Cost of Transaction Net Gain
Involved Loan) Price Price Expenses Assets Date (Loss)
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Managed Income Guaranteed Investment
Fund Contracts
17 purchases $638,183 $638,183 $638,183
28 sales $268,333 $162,713 $268,333 $105,620
Balanced Equity American Mutual Fund
Fund 27 purchases $796,616 $796,616 $796,616
16 sales $146,185 $130,545 $146,185 $15,640
Growth Equity Fund Growth Investors
Mutual Fund
20 purchases $995,065 $995,065 $995,065
16 sales $247,509 $236,180 $247,509 $11,329
</TABLE>
* Denotes a party-in-interest to the Plan.
15
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INDEX TO EXHIBITS
SEQUENTIAL
EXHIBITS PAGE NUMBER
- -------- -----------
23.1 Consent of Price Waterhouse LLP 17
16
CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
We hereby consent to the incorporation by reference in the Registration
Statement on Form S-8 (No. 33-4224) of The Sports Authority 401(k) Savings and
Profit Sharing Plan of our report dated June 24, 1997, appearing in this Form
11-K.
Price Waterhouse LLP
Fort Lauderdale, Florida
June 27, 1997
17
